LONG EXPOSURE
A view that the index will rise.
A long position gains from an upward move in the collection index and loses from a downward move, before fees and funding.
02 / THE PROTOCOLFROM COLLECTION TO POSITION
A new dimension
to your collection.
Built around synthetic collection indices.
Designed for both sides of the market.
COLLECTION INDEXOne collection.
One market.
One market.
A synthetic NFT index represents each collection. Multi-source oracle pricing anchors the market to collection value.
UNDERSTANDING A POSITIONSTRAPTRADE
Two directions.
One collection index.
SHORT EXPOSURE
A view that the index will fall.
A short position gains from a downward move in the collection index and loses from an upward move, before fees and funding.
Leverage magnifies both gains and losses. A position can be liquidated if its collateral no longer meets margin requirements.
THE MECHANICSSTRAPTRADE
What sits behind
every position.
Collateral
Collateral supports an open position. The deck proposes both fungible collateral and NFT collateral; accepted assets and valuation rules remain unspecified.
Funding
Funding payments are part of the perpetual market design. The calculation, payment interval and settlement rules have not yet been published.
Liquidation
Liquidation logic is intended to manage positions that no longer meet margin requirements. Thresholds and execution details remain to be specified.
A closer look
Do I own the underlying NFT when I open a position?
No. The proposed perpetual market gives exposure to a synthetic collection index. It does not transfer ownership of an underlying NFT.
How is the collection price determined?
The design uses multi-source oracle pricing. The supplied deck does not identify the sources, aggregation method or update frequency.
Are the trading parameters final?
The supplied material describes a proposed system. Collateral eligibility, fee schedules, funding formulas and liquidation parameters still require detailed specifications.